Student Loan Fugitives

While I find my student loans to be an albatross around my neck, and am not pleased that it appears they'll be with me approximately forever, I haven't reached the point of no return.

The most surprising thing to me is that people actually leave the country, thinking that they're going to make more money overseas and will be able to pay off their loans! Mine are dwindling, but not as fast as I'd like them to. My next payment is due Tuesday but fortunately it's a small one. It's much easier to pay the small amount of money than to pay the gigantic one; they take that one automatically so I have no margin for error, or the ability to mail the check on the due date when it arrives the day before payday. In the end, that's a small price to pay for a reduction in interest.

Lately I hear more people complaining that you can't get rid of student loan debt by filing bankruptcy; in this economy that might be helpful; however, we're paying for the actions of previous generations of students, who became doctors and lawyers, got jobs and just didn't feel the need to bother paying on their loans so filed for bankruptcy. The law was changed in the early 80's, I believe; I've heard stories about people fleeing to other states and getting away with non-payment of loans because the government hadn't caught up to them.

That doesn't make so much sense to me because presumably they have your social security number from the loan and from your workplace, as well as the ability to match them up and garnish your wages.

Several years ago, I met someone at a party who screened all calls to miss the creditor calls. They do tend to call once you stop paying your bills. This group of bills included student loans and I don't think the government gives up on that until you die. I was unimpressed with the thought that someone would take out loans with no intention of paying them back. I can't imagine!